Overview
Insurance provider's Q4 revenue rose 5.1%, beating analyst expectations
Adjusted EPS for Q4 beat analyst expectations
Company announced $4 bln share repurchase program
Outlook
Company did not provide specific guidance for future quarters or year
Result Drivers
PREMIUM REDUCTIONS - Co reduced premiums for 7.8 mln auto and homeowners insurance customers by an average of 17% to offset cost inflation
UNDERWRITING INCOME - Higher average earned premiums and lower catastrophe losses led to increased underwriting income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $17.35 bln | $14.62 bln (6 Analysts) |
Q4 Adjusted EPS | Beat | $14.31 | $9.86 (21 Analysts) |
Q4 Adjusted Net Income | Beat | $3.79 bln | $2.58 bln (16 Analysts) |
Q4 Net Income | $3.80 bln | ||
Q4 Adjusted Combined Ratio | 76.6% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "hold."
Wall Street's median 12-month price target for Allstate Corp is $242.00, about 16.8% above its February 4 closing price of $207.12
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nPn1NJMLTa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)